DOWNFALLS

10 years ago

Madoff Prepares Plea

Bernie Madoff, accused of spearheading a $50 billion ponzi scheme, arrived at the U.S. District Court in New York City this morning, where he is expected to plead guilty. If he does admit to the 11 felony counts, he could face 150 years in jail, likely starting later today. "The deal is not part of a plea bargain, though," NBC New York reports. "That means he may not have to cooperate as the investigation continues."